Contact Information: Contact: Pfeiffer High Investor Relations, Inc. Geoff High 303-393-7044
Law Enforcement Associates Increases Mid-Year Revenue Forecast to $8.5 Million; Revised Estimate Represents a $4.7 Million Increase Over Six-Month Revenue Last Year
| Source: Law Enforcement Associates
RALEIGH, NC--(Marketwire - July 13, 2009) - Law Enforcement Associates Corporation (LEA)
(OTCBB : LAWE ), the largest U.S.-based developer and manufacturer of
electronic surveillance equipment, today revised its revenue forecast for
the six-month period ended June 30, 2009, to approximately $8.5 million
from a prior estimate of just over $8 million. The revised figure would
represent a revenue increase of roughly $4.7 million, or 124%, versus last
year's six-month revenue figure of $3.8 million. LEA also projected strong
profitability for the 2009 six-month period.
"Order and shipping volume during our second quarter were exceptional,"
said Paul Feldman, president. "Our strong second quarter and mid-year
results will lead to a marked improvement in our balance sheet and will
clearly illustrate the growing financial strength of the Company."
Feldman added, "Stimulus funding from the American Recovery and
Reinvestment Act is now flowing into the budgets of our customers. We are
taking aggressive steps to address the pent up demand for security and
surveillance equipment that has been grossly underfunded for several years.
We are optimistic that our sales efforts and product development programs
will allow us to deliver continued strong financial results during the
balance of fiscal 2009 and beyond."
About Law Enforcement Associates Corporation
LEA is a leading security and surveillance technology company that
manufactures and markets a diverse product line to the worldwide law
enforcement, military, security and corrections markets. The company's
Audio Intelligence Devices (AID) division has been serving the law
enforcement sector for more than 30 years and is one of the most respected
names in the surveillance equipment industry. LEA's products are used by a
wide variety of government and non-governmental agencies, as well as public
and private companies. These include military bases, nuclear facilities,
embassies, government installations, oil refineries, United Nations and
NATO locations. LEA's products have been used at high-profile events such
as the Summer & Winter Olympics, Super Bowl, U.S. Golf Championship, and
the Democratic and Republican National Conventions. Its products include
the Under Vehicle Inspection System (UVIS), EDK123 (Explosive Detection
Kit), Bloodhound and Birddog GPS Tracking Systems, Graffiti Cam,
Letter-bomb Visualizer Spray, and a wide variety of Audio & Video
Surveillance Equipment. For more information, please visit
www.leacorp.com.
Forward-Looking Information:
The matters discussed in this news release include forward-looking
statements, including statements regarding anticipated mid-year revenue,
profitability and improved balance sheet and financial strength, as well as
our ability to deliver continued strong financial results during the
balance of fiscal 2009 and beyond. Such forward-looking statements involve
certain risks, assumptions and uncertainties, including the inability to
generate and secure the necessary product sales, or the lack of acceptance
of the company's products by its customers. In each case actual results may
differ materially from such forward-looking statements. The company does
not undertake to publicly update or revise its forward-looking statements
even if experience or future changes make it clear that any projected
results (expressed or modified) will not be realized.